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- Complete Stochastic Indicator for MT5 Download - Free - [TFlab]
Complete Stochastic Indicator for MT5 Download - Free - [TFlab]
The Complete Stochastic Indicator is one of the most widely used technical analysis tools in MetaTrader 5, helping analysts evaluate price movements and identify reversal points as well as overbought (Buy) and oversold (Sell) conditions.
This indicator is an advanced version of the Simple Stochastic, oscillating between levels 0 and 100, and consists of the %K, %D, and K Slow lines.
Indicator Table
Category | Price Action - Oscillator |
Platform | MetaTrader 5 |
Skill Level | Intermediate |
Indicator Type | Continuation - Reversal |
Timeframe | Multi-Timeframe |
Trading Style | Intraday Trading |
Market | Cryptocurrency - Forex - Stocks |
Indicator in an Uptrend
In an uptrend, prices initially decline continuously, forming lower lows. The chart below shows the Swiss Franc to Japanese Yen pair (CHF/JPY).
Here, the %K and %D lines are located near or below the 20 level (oversold condition).
If the %D line crosses above the K Slow line from below, it may signal the beginning of an uptrend.
Indicator in a Downtrend
In a downtrend, prices initially rise continuously, forming higher highs. Under these conditions, the %K and %D lines are positioned near or above the 80 level (overbought condition).
If the %D line crosses below the K Slow line from above, it could signal the continuation of the downtrend.
Indicator Settings
- Chart Theme: Chart background color;
- K Period: Period for calculating the %K line; default is 89 candles;
- Slow K Period: Period for calculating the Slow %K line; default is 55 candles;
- D Period: Period for calculating the %D line; default is 34 candles;
- Show K Line: Displays the %K line;
- Show K Slow Line: Displays the Slow %K line;
- Show D Line: Displays the %D line.
Conclusion
The Complete Stochastic Indicator is a powerful tool for identifying bullish and bearish trends and precisely determining entry (Entry) and exit (Exit) points in trades.
By observing the positions of the %K and %D lines relative to the key levels of 80 and 20, traders can assess market buying (Buy) and selling (Sell) pressure.
Combined with other tools and confirmations, traders can make better decisions.
Which timeframes are suitable for using the Complete Stochastic Indicator?
The Complete Stochastic Indicator is suitable for multi-timeframe analysis, and traders can use it in various timeframes, including minute, hourly, and daily charts.
Can the colors of the lines in the Complete Stochastic Indicator be customized?
Yes, in the indicator settings, traders can change the colors of the %K, %D, and K Slow lines to match their trading style.